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Day Trading’s Return

Day trading – a Dotcom era symbol – has returned since March 2020 in Australia and the United States. Australians are using a COVID-19 policy to withdraw their superannuation, and to bet on airline and tourism stocks. Few have a system or understand the transaction costs involved. Sports betting maven Dave Portnoy (@stoolpresidente) has launched #DDTG and mobilised Robinhood platform day traders using no-commission trades to profit from the COVID-19 pandemic. Hertz has responded to retail traders by announcing a secondary stock offering whilst also being in Chapter 11 bankruptcy. It feels like deja vu, again.

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